Wholesaling news

 

15 June 2021
Leading online pureplay, Boxed, and Seven Oaks Acquisition Corp., a publicly-traded special purpose action company, have announced a definitive agreement for a business combination that would result in Boxed becoming a public company. This will unlock new investment in the online grocery and tech company. Unique business model Boxed has developed an innovative approach to grocery ecommerce,...
11 June 2021
Australia’s market leading retailer continues to make progress against its strategic priorities, we round up some of the biggest developments over the last few weeks. PFD Food Services acquisition approved Woolworths has finally been given permission to acquire Australia’s second largest foodservice supplier, PFD Food Services. The retailer originally announced its intent to buy a 65% sta...
03 June 2021
Following Alibaba’s example, Yonghui, Suning-Carrefour and fudi are opening membership-only wholesales stores with a local twist. Yonghui opens its first membership store in May and four more are under planning Yonghui has upgraded one of its Bravo YH supermarkets in Fuzhou to a wholesale store. Launched on 1 May, the store occupies an area of 11,000 sq m. The warehouse-style industrial she...
02 June 2021
Walmart’s Sam’s Club operation is bringing back its sampling and demo programme, Taste & Tips. This was paused last year for health and safety reasons in response to the COVID-19 pandemic. Key element of the club model The programme will initially return in a limited way, available at weekends only and in limited quantities. New safety measures will be in place, such as sealed samples. Samp...
28 May 2021
Despite facing tough comparables from last year, Costco’s third quarter revenue increased over 20%. We look at what continues to drive an outstanding performance from the leading warehouse club operator. Costco Q3 key numbers Total revenue up 21.5% to $45.3bn Net sales up 21.7% to $44.4bn Comparable sales (ex-fuel and currency impacts) up 15.1% Comparable sales up 15.2% in the U...
15 May 2021
Mexico’s Grupo Comercial Chedraui, through its Bodega Latina Corporation subsidiary, has entered into a definitive agreement to acquire US-based operator, Smart & Final, in a $620m deal.  Unique retail model Smart & Final operates a unique concept in the US, bridging wholesale and retail models. It operates more than 250 stores under two banners: Smart & Final and Smart & Final Extra!, in C...
04 May 2021
CEO of Alibaba’s Freshippo grocery retail chain, Hou Yi, has announced expansion plans to open 10 more Freshippo X Stores in 2021. The first store is profitable within two months of the store opening The first X Store, Alibaba’s membership-only wholesale store, opened in October last year in Shanghai. Hou Yi revealed that the store is making profit by end of 2020, merely two months from t...
08 April 2021
The Co-op has announced its full year results for the 51 weeks to 2 January 2021, along with an announcement on its decision to repay relief it received through the UK government’s furlough scheme. Highlights Group revenue £11.5bn (2019: £10.9bn), +5.5% vs 2019 £84m of additional Covid costs during the year (£82m supported by Government economic measures), below the £97m forecast in J...
06 April 2021
Reliance Retail has announced that it is extending the date to complete the purchase of Future Retail.  While waiting for the merger to be approved by the authorities, Reliance Retail is focusing more on growing its private label brands, while Future Retail has enhanced its digital capability with a two-hour delivery guarantee for online shoppers of Big Bazaar. Potential acquisition of Future...
23 March 2021
Following much speculation, Costco is reported to be entering Sweden in autumn 2022. The leading retailer, which reported revenue growth of 9.1% to $166.2bn in 2020, is due to open its first store north of Stockholm in Täby. 13,000 sq. m premises secured in growing location Trophi , ‘the Nordic region’s leading real estate company in the grocery trade’ has confirmed a contract for ...